three more ethics questions... additional, correct, question, writing

Benjiko

Alright, before I post two more ethics question, I just want to get some clarification on three things:
1) Can you delegate supervisory responsibilities to non-members/candidates?
2) Do you need to disclose a gift if less than $100 in value?
3) When accepting additional compensation/gifts from clients based on 1) past performance, and 2) future perfomance, you need to disclose in writing compensation on past performance to accept, and RECEIVE written consent on 2 to accept, correct?
Ethics Questions:
1) A CFO who is a CFA Institute member is careful to make his press releases, some of them containing material and previously undisclosed information clear and understandable to his readers. While writing a new release, he often has his current intern proofread rough drafts. He also sends electronic copies to this brother, and English teacher, to get suggestions concerning style and grammar. With respect to Standard II (A), Material Nonpublic information, the CFO is:
A) Violating the standards by either showing the pre-release version to his intern or sending it to his brother.
B) Not in violation of the Standard.
C) Only in violation by showing the pre-release version to the intern but not to a relative such as his brother.
D) Only in violation by emailing the pre-release version to his brother but not the intern, because the intern is in essence an employee of the firm.
2) Which of the following statements is most correct concerning a members obligation to his or her employer under the Code and Standards?
A) Consent from the employer and the outside prospective client is necessary to permit independent practice that could result in compensation or other benefits in competition with the member’s employer.
B) Members are prohibited from making arrangements or preparations to go into competitive business before terminating their relationship with their employer.
C) Members are prohibited from undertaking independent practice in competition with their employer.
D) Consent from the employer is necessary to permit independent practice that could result in compensation or other benefits in competition with the member’s employer.
3) Jones Inc. is attempting to qualify for Global Investment Performance Standards (GIPS) compliance. Regarding mandatory disclosures, which of the following disclosures will be insufficient and thus prevent Jones Inc., from claiming compliance?
A) Jones’ definition of the firm is that they are a brokerage/portfolio management firm registered with the SEC.
B) Jones makes available a complete list and description of all of the firm’s composites.
C) Jones discloses all non-fee paying portfolios that are included in composites and notes the percentage of composites assets that are non-fee paying portfolios.
D) Jones discloses all firm assets under active management each period.